Webster Bank NA increased its stake in Illinois Tool Works Inc. (NYSE: ITW – Get Rating) by 1,262.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,359 shares of the industrial products company stock after purchasing an additional 6,819 shares during the quarter. Webster Bank NA’s holdings in Illinois Tool Works were worth $ 1,540,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $ 5,647,000. Creative Financial Designs Inc. ADV grew its position in Illinois Tool Works by 6.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,791 shares of the industrial products company stock worth $ 442,000 after purchasing an additional 103 shares in the last quarter. KCM Investment Advisors LLC raised its stake in Illinois Tool Works by 1.2% during the 4th quarter. KCM Investment Advisors LLC now owns 14,967 shares of the industrial products company stock valued at $ 3,694,000 after purchasing an additional 182 shares during the period. Savant Capital LLC lifted its holdings in shares of Illinois Tool Works by 7.1% in the fourth quarter. Savant Capital LLC now owns 7,020 shares of the industrial products company stock valued at $ 1,732,000 after purchasing an additional 465 shares in the last quarter. Finally, Congress Wealth Management LLC DE acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $ 12,262,000. Hedge funds and other institutional investors own 79.03% of the company stock.
A number of brokerages have commented on ITW. Credit Suisse Group decreased their price objective on Illinois Tool Works from $ 267.00 to $ 261.00 in a research report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Illinois Tool Works from $ 236.00 to $ 226.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. Barclays cut their target price on shares of Illinois Tool Works from $ 192.00 to $ 180.00 and set an “underweight” rating for the company in a research report on Tuesday, May 24th. JPMorgan Chase & Co. upgraded shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $ 262.00 to $ 255.00 in a report on Monday, March 28th. Finally, Stifel Nicolaus cut their price objective on Illinois Tool Works from $ 242.00 to $ 202.00 and set a “hold” rating for the company in a report on Monday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $ 230.55.
Shares of ITW stock opened at $ 181.38 on Thursday. Illinois Tool Works Inc. has a 12 month low of $ 177.33 and a 12 month high of $ 249.81. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90. The stock has a 50 day moving average of $ 200.89 and a two-hundred day moving average of $ 217.20. The company has a market capitalization of $ 56.49 billion, a P / E ratio of 21.31, a P / E / G ratio of 1.98 and a beta of 1.07.
Illinois Tool Works (NYSE: ITW – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $ 2.11 EPS for the quarter, beating the consensus estimate of $ 2.07 by $ 0.04. Illinois Tool Works had a return on equity of 72.57% and a net margin of 18.08%. The business had revenue of $ 3.94 billion for the quarter, compared to analyst estimates of $ 3.76 billion. During the same quarter in the previous year, the firm earned $ 2.11 EPS. Illinois Tool Works’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Illinois Tool Works Inc. will post 9.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be given a dividend of $ 1.22 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $ 4.88 dividend on an annualized basis and a yield of 2.69%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.34%.
In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $ 205.34, for a total value of $ 205,340.00. Following the transaction, the executive vice president now owns 7,803 shares of the company stock, valued at $ 1,602,268.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.78% of the company stock.
Illinois Tool Works Profile: (Get Rating)
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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